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Mil Work Company Owns A Milling Machine That Cost 125000 And Has Accumulated Depreciation

Bramble Company owns equipment that cost $1,071,000 and has accumulated depreciation of $452,200. 1. The expected future net cash flows from the use of the asset are expected to be $595,000. 2. The...A company is considering the purchase of a new machine for $30,400. Management predicts that the machine can produce sales of $13,600 each year for the next 10 years. Expenses are expected to include direct materials, direct labor, and factory overhead totaling $7,200 per year plus depreciation of $3,600 per year. The company's tax rate is 40%.

The machine's operating cost is $80,000 per year. The machine can be sold now for $150,000 but if the company keeps the machine for three more years (like the vice president wants to do), its salvage value will be only $100,000. Alternatively, the company can subcontract the work that is performed by the machine at a cost of $124,000 per year...Sunk costs. Depreciation. Payback period. Net Present Value. Answer = b: In order to arrive at cash flows, you may have to adjust for non-cash flow cost items such as depreciation. You are about to invest $ 15,000 into a project that will generate $ 5,500 of cash flows each year for the next 3 years.

Millworks Company owns a milling machine that cost $125,000 and has accumulated Millworks Company owns a milling machine that cost $125,000 and has accumulated depreciation of $91,000. Prepare the entry to record the disposal of the milling machine on January 5 under each of the following independent situations.1...Transcribed image text: Ch 08 Ex 8-16 Help Save&Exit Submt Check my work Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a milling machine that cost $126,900 and has accumulated depreciation of $91,600. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. points 1.

Tk.298,000 and at 1 January 2015 had related accumulated depreciation of Tk.58,000. Required: Prepare the disclosure notes for property, plant and equipment for the year ended 31 Decem ber 20X5 as required by the IFRS. [Marks: 6) (d) The Sheliak Company acquired equipment on 1 January 20X3 at a cost of £1,000,000...The Barnett Company has assembled the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Barnett Company has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation. Cost Hours $24,900 5,250 24,000 5,500 36,400 7,500 44,160 9,750

Millworks Company owns a milling machine that cost $125,000 and has accumulated depreciation of $91,000. Prepare the entry to record the disposal of the milling machine on January 5 under each of the following independent situations. a. The machine needed...It would appear that Pinto's financial structure has changed during the year. Debt of €400,000 has been redeemed (for €420,000) and there has been a share issue raising €1 million. The company is now nil geared compared to modest gearing

Sydney Company owns a milling machine that cost $250,000 and has accumulated depreciation of $182,000. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing...The machine has a zero salvage value. The company is considering buying a technologically improved machine at a cost of $232,000. The new machine will save $50,000 per year after taxes in cash operating costs. If the company decides not to buy the new machine, it can use the old machine for an indefinite time by incurring heavy repair costs.

Cedric Company recently traded in an older modl computer for a new model. The old model's book value was 180.000 (original cost of 400.000 less 220.000 in accumulated depreciation) and its fair value was 200.000 Cedric paid 60.000 to complete the exchange which was commercial substance Prepare the journal entry to record the exchange...ULL TAX CO Full Tax Co. is incorporated and tax resident in Barbados. The audited financial statements for Full Tax Co. for year-end December 31, 2020 show an accounting profit after tax of $13,500 after charging the following: • Depreciation $5,300 • Tax $1,500 • Property Tax $10,000 • Interest expense $15,000 • Preference dividends of $40,000 • Legal fees $110,000 • Insurance ...

examples and extracts from company reports. The Manual is a three-volume set comprising: • Manual of accounting – IFRS 2010 • Manual of accounting – Financial instruments 2010 • Illustrative IFRS corporate consolidated financial statements for 2009 year ends A practical guide to capitalisation of borrowing costs...The Variable Costs were $350,000 and the Net Profits were $100,000 Administration. 1 answer. Fultz Company. 1 answer. On January 1, 2014, Amazing Corp. issued 12% bonds dated January 1, 2014, with a face …

The following is the extract of Jessie’s trial balance as at 31 December 2005: The following notes are provided: (i) Buildings are depreciated at 2% pa on a straight-line basis. (ii) Plant and machinery is depreciated at 25% pa on a …...XYZ company purchased a new machine in March at $50,000 and is using the profits to pay it off. Profits in March were $7,876. If the profits increase 2% from the previous month, in what month will the machine be completely paid off? Solution Rough estimation: $50,000 $7,876 ≈6.35 We have only few values to calculate, so let us make a table of ...

10) Accumulated depreciation $10,000 $10,000 December 31, Year 1 workpaper elimination entry - Elimination of intercompany gain and adjustment of the machine and accumulated depreciation accounts to their original balance: I:ill.1 Intercompany gain on sale of...Applying the stated 8% rise in the cost of sales, last year's cost of sales of $29 million would translate to an equivalent figure of $31·32 million in the current year which is almost the same as the actual figure ($31·3 million). This implies that the production activity/volume of sales has remained the same as last year. As

Cleveland-Cliffs is the Largest Flat‑Rolled Steel Producer in North America. Following the acquisitions of ArcelorMittal USA and AK Steel, and the completion of our Toledo Direct Reduction plant in 2020, Cleveland-Cliffs is a different company. We are a vertically integrated high-value steel enterprise...Dr Depreciation (3,000 x 0.1) 300 Cr Accumulated Depreciation 300 7. Dr Loss due to fire (expense) 20,000 Cr Purchases/Cost of Goods Sold 20,000 In the journal entry above, an expense has to be recorded to show the loss.

Q: Diaz Company owns a machine that cost $125,000 and has accumulated depreciation of $90,900. Prepare ... A: Here in this question we are require to make entry for disposal of machine. Journal entry is made to...

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